GeneDx Holdings Corp Financials

WGS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows GeneDx Holdings Corp (WGS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 60/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

GeneDx Holdings Corp has an operating margin of -7.6%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -89.1% the prior year.

Growth

100

GeneDx Holdings Corp's revenue surged 50.8% year-over-year to $305.4M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

GeneDx Holdings Corp carries a low D/E ratio of 0.21, meaning only $0.21 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 3.61, GeneDx Holdings Corp holds $3.61 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While GeneDx Holdings Corp generated -$28.5M in operating cash flow, capex of $5.5M consumed most of it, leaving -$34.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Neutral

6/9

GeneDx Holdings Corp passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.55x

For every $1 of reported earnings, GeneDx Holdings Corp generates $0.55 in operating cash flow (-$28.5M OCF vs -$52.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Revenue

$305.4M

YoY+50.8%

5Y CAGR+9.3%

GeneDx Holdings Corp generated $305.4M in revenue in fiscal year 2024. This represents an increase of 50.8% from the prior year.

EBITDA

-$15.3M

YoY+90.5%

GeneDx Holdings Corp's EBITDA was -$15.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 90.5% from the prior year.

Free Cash Flow

-$34.0M

YoY+81.7%

GeneDx Holdings Corp generated -$34.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 81.7% from the prior year.

Net Income

-$52.3M

YoY+70.3%

GeneDx Holdings Corp reported -$52.3M in net income in fiscal year 2024. This represents an increase of 70.3% from the prior year.

EPS (Diluted)

$-1.94

YoY+73.2%

GeneDx Holdings Corp earned $-1.94 per diluted share (EPS) in fiscal year 2024. This represents an increase of 73.2% from the prior year.

Cash & Debt

$85.2M

YoY-14.5%

5Y CAGR-5.8%

GeneDx Holdings Corp held $85.2M in cash against $51.9M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

28M

YoY+8.0%

GeneDx Holdings Corp had 28M shares outstanding in fiscal year 2024. This represents an increase of 8.0% from the prior year.

Gross Margin

63.6%

YoY+19.2pp

5Y CAGR+21.4pp

GeneDx Holdings Corp's gross margin was 63.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 19.2 percentage points from the prior year.

Operating Margin

-7.6%

YoY+81.5pp

5Y CAGR+7.9pp

GeneDx Holdings Corp's operating margin was -7.6% in fiscal year 2024, reflecting core business profitability. This is up 81.5 percentage points from the prior year.

Net Margin

-17.1%

YoY+69.7pp

5Y CAGR-2.0pp

GeneDx Holdings Corp's net profit margin was -17.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 69.7 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$45.7M

YoY-21.5%

5Y CAGR+5.5%

GeneDx Holdings Corp invested $45.7M in research and development in fiscal year 2024. This represents a decrease of 21.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$5.5M

YoY+4.6%

5Y CAGR-14.4%

GeneDx Holdings Corp invested $5.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 4.6% from the prior year.

WGS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$305.4M+50.8%	$202.6M-13.7%	$234.7M+10.6%	$212.2M+18.3%	$179.3M-8.6%	$196.2M
Cost of Revenue	$111.1M-1.3%	$112.6M-56.9%	$261.4M+14.3%	$228.8M+30.5%	$175.3M+54.6%	$113.4M
Gross Profit	$194.4M+116.0%	$90.0M+436.5%	-$26.8M-61.1%	-$16.6M-512.4%	$4.0M-95.1%	$82.8M
R&D Expenses	$45.7M-21.5%	$58.3M-32.4%	$86.2M-18.0%	$105.2M+44.7%	$72.7M+108.2%	$34.9M
SG&A Expenses	$101.1M-24.4%	$133.8M-38.1%	$216.2M+4.9%	$206.0M+104.5%	$100.7M+241.7%	$29.5M
Operating Income	-$23.2M+87.1%	-$180.6M+73.0%	-$667.7M-49.6%	-$446.1M-84.4%	-$242.0M-695.7%	-$30.4M
Interest Expense	N/A	$1.1M-65.3%	$3.2M+13.1%	$2.8M+14.6%	$2.5M+216.0%	$783K
Income Tax	-$343K+63.0%	-$926K+98.1%	-$49.1M	$0	$0	$0
Net Income	-$52.3M+70.3%	-$175.8M+68.0%	-$549.0M-123.7%	-$245.4M-1.7%	-$241.3M-712.5%	-$29.7M
EPS (Diluted)	$-1.94+73.2%	$-7.23+86.5%	$-53.63	$-2.27+100.0%	$-47036.00+82.2%	$-264056.00

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$116.7M+13.7%	$102.7M+17.9%	$87.1M-8.9%	$95.6M+35.6%	$70.5M+13.0%	$62.4M+8.7%	$57.4M+7.7%	$53.3M
Cost of Revenue	$32.2M+1.3%	$31.8M+11.0%	$28.6M-2.7%	$29.4M+6.8%	$27.6M+10.2%	$25.0M-6.2%	$26.7M-4.9%	$28.0M
Gross Profit	$84.5M+19.2%	$70.9M+21.2%	$58.5M-11.7%	$66.2M+54.1%	$43.0M+14.8%	$37.4M+21.6%	$30.8M+21.8%	$25.3M
R&D Expenses	$19.8M+31.5%	$15.1M+19.9%	$12.6M+8.5%	$11.6M+6.3%	$10.9M-5.7%	$11.6M-5.6%	$12.2M-14.3%	$14.3M
SG&A Expenses	$44.4M+62.1%	$27.4M-14.7%	$32.1M+29.9%	$24.7M-5.1%	$26.0M+11.2%	$23.4M-12.0%	$26.6M+2.0%	$26.1M
Operating Income	-$3.3M-136.3%	$9.0M+296.9%	-$4.6M-151.7%	$8.8M+183.2%	-$10.6M+22.6%	-$13.7M+46.7%	-$25.6M+40.3%	-$43.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	-$597K+55.2%	-$1.3M-226.5%	$1.1M
Income Tax	$247K+200.4%	-$246K-155.0%	$447K+1962.5%	-$24K+87.4%	-$190K-131.7%	-$82K+80.0%	-$411K-139.0%	-$172K
Net Income	-$7.6M-170.6%	$10.8M+265.6%	-$6.5M-220.1%	$5.4M+118.6%	-$29.2M-44.1%	-$20.2M+21.5%	-$25.8M+39.1%	-$42.3M
EPS (Diluted)	$-0.27-175.0%	$0.36+256.5%	$-0.23-192.0%	$0.25+122.7%	$-1.10-41.0%	$-0.78-9.9%	$-0.71+56.7%	$-1.64

WGS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$419.4M+0.1%	$418.8M-14.7%	$490.9M-11.4%	$554.1M+120.2%	$251.6M	N/A
Current Assets	$198.0M+8.6%	$182.3M-14.2%	$212.6M-56.0%	$483.5M+177.7%	$174.1M	N/A
Cash & Equivalents	$85.2M-14.5%	$99.7M-19.6%	$123.9M-69.1%	$400.6M+270.4%	$108.1M-6.0%	$115.0M
Inventory	$10.7M+21.3%	$8.8M-35.8%	$13.7M-59.2%	$33.5M+34.0%	$25.0M	N/A
Accounts Receivable	$37.6M	N/A	$42.6M+60.8%	$26.5M-17.3%	$32.0M	N/A
Goodwill	$0	N/A	N/A	$0	$0	N/A
Total Liabilities	$174.1M-8.7%	$190.7M-19.6%	$237.2M+42.9%	$166.0M-71.5%	$581.7M	N/A
Current Liabilities	$54.8M-6.8%	$58.8M-59.2%	$144.3M+42.5%	$101.3M+37.9%	$73.4M	N/A
Long-Term Debt	$51.9M-1.5%	$52.7M+743.0%	$6.3M-43.2%	$11.0M-42.0%	$19.0M	N/A
Total Equity	$245.2M+7.6%	$228.0M-10.1%	$253.7M-34.6%	$388.1M+217.6%	-$330.1M-272.1%	-$88.7M
Retained Earnings	-$1.4B-4.0%	-$1.3B-15.6%	-$1.1B-95.4%	-$575.4M-74.3%	-$330.1M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$493.9M+6.5%	$463.9M+3.9%	$446.4M+6.4%	$419.4M+7.8%	$389.1M-1.4%	$394.5M-5.8%	$418.8M+0.4%	$417.3M
Current Assets	$237.6M+16.0%	$204.8M-9.3%	$225.8M+14.1%	$198.0M+22.1%	$162.2M-0.8%	$163.4M-10.4%	$182.3M+6.1%	$171.8M
Cash & Equivalents	$96.0M+29.5%	$74.1M-25.7%	$99.7M+17.0%	$85.2M+52.0%	$56.1M-33.0%	$83.7M-16.1%	$99.7M+14.1%	$87.4M
Inventory	$10.6M-11.4%	$11.9M-5.8%	$12.7M+18.9%	$10.7M+3.2%	$10.3M-11.1%	$11.6M+32.3%	$8.8M-6.1%	$9.3M
Accounts Receivable	$60.9M+26.9%	$48.0M+4.4%	$46.0M+22.2%	$37.6M	N/A	N/A	N/A	N/A
Goodwill	$12.8M-1.0%	$12.9M	N/A	$0	N/A	N/A	N/A	N/A
Total Liabilities	$201.6M+8.0%	$186.7M-1.2%	$189.0M+8.6%	$174.1M-10.7%	$195.1M+4.1%	$187.3M-1.8%	$190.7M+17.0%	$163.0M
Current Liabilities	$87.6M+22.7%	$71.4M+2.7%	$69.5M+26.9%	$54.8M-19.7%	$68.3M+34.6%	$50.7M-13.7%	$58.8M-14.0%	$68.4M
Long-Term Debt	$51.6M-0.2%	$51.7M-0.2%	$51.8M-0.2%	$51.9M-0.5%	$52.2M-0.3%	$52.3M-0.7%	$52.7M+770.6%	$6.1M
Total Equity	$292.3M+5.5%	$277.1M+7.7%	$257.4M+5.0%	$245.2M+26.4%	$194.0M-6.4%	$207.2M-9.1%	$228.0M-10.3%	$254.3M
Retained Earnings	-$1.4B-0.6%	-$1.3B+0.8%	-$1.4B-0.5%	-$1.4B-0.2%	-$1.3B-2.2%	-$1.3B-1.6%	-$1.3B-2.0%	-$1.3B

WGS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$28.5M+84.2%	-$180.1M+43.6%	-$319.2M-67.6%	-$190.4M-104.5%	-$93.1M-397.3%	-$18.7M
Capital Expenditures	$5.5M+4.6%	$5.3M-26.6%	$7.2M-23.9%	$9.4M-61.0%	$24.1M+102.1%	$11.9M
Free Cash Flow	-$34.0M+81.7%	-$185.4M+43.2%	-$326.3M-63.3%	-$199.8M-70.5%	-$117.2M-282.4%	-$30.7M
Investing Cash Flow	-$30.1M+31.1%	-$43.7M+69.1%	-$141.3M-579.9%	-$20.8M+35.0%	-$32.0M-106.9%	-$15.5M
Financing Cash Flow	$44.2M-76.3%	$186.2M-5.6%	$197.3M-60.0%	$493.7M+282.6%	$129.1M-12.8%	$148.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$15.8M+51.3%	$10.4M+2.3%	$10.2M+419.9%	-$3.2M+29.3%	-$4.5M+72.6%	-$16.4M+45.0%	-$29.9M+27.6%	-$41.2M
Capital Expenditures	$6.2M+160.5%	$2.4M-61.3%	$6.1M+101.0%	$3.0M+125.6%	$1.4M+205.2%	$443K-81.4%	$2.4M+2021.4%	$112K
Free Cash Flow	$9.6M+19.2%	$8.1M+98.6%	$4.1M+165.0%	-$6.2M-6.4%	-$5.9M+65.3%	-$16.9M+47.7%	-$32.2M+22.0%	-$41.3M
Investing Cash Flow	-$4.7M+87.1%	-$36.4M-286.4%	-$9.4M-1712.7%	-$519K+97.7%	-$22.7M-2792.9%	$843K+117.3%	-$4.9M+82.1%	-$27.1M
Financing Cash Flow	$10.8M+3012.1%	$346K-97.5%	$13.7M-55.8%	$31.0M+8034.3%	-$391K+10.7%	-$438K-100.9%	$47.1M+5270.5%	-$911K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WGS Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	63.6%+19.2pp	44.4%+55.8pp	-11.4%-3.6pp	-7.8%-10.1pp	2.3%-39.9pp	42.2%
Operating Margin	-7.6%+81.5pp	-89.1%+195.3pp	-284.5%-74.2pp	-210.3%-75.3pp	-134.9%-119.4pp	-15.5%
Net Margin	-17.1%+69.7pp	-86.8%+147.1pp	-233.9%-118.3pp	-115.6%+18.9pp	-134.6%-119.4pp	-15.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-12.5%+29.5pp	-42.0%+69.9pp	-111.8%-67.5pp	-44.3%+51.6pp	-95.9%	N/A
Current Ratio	3.61+0.5	3.10+1.6	1.47-3.3	4.77+2.4	2.37	N/A
Debt-to-Equity	0.21-0.0	0.23+0.2	0.020.0	0.03+0.1	-0.06	N/A
FCF Margin	-11.1%+80.4pp	-91.5%+47.5pp	-139.0%-44.9pp	-94.2%-28.8pp	-65.4%-49.7pp	-15.6%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	72.4%+3.4pp	69.0%+1.9pp	67.1%-2.1pp	69.2%+8.3pp	60.9%+1.0pp	59.9%+6.4pp	53.6%+6.2pp	47.4%
Operating Margin	-2.8%-11.5pp	8.7%+14.0pp	-5.2%-14.4pp	9.2%+24.2pp	-15.0%+6.9pp	-21.9%+22.8pp	-44.7%+36.0pp	-80.6%
Net Margin	-6.5%-17.1pp	10.5%+18.0pp	-7.5%-13.2pp	5.7%+47.1pp	-41.4%-9.0pp	-32.4%+12.5pp	-44.9%+34.4pp	-79.3%
Return on Equity	N/A	3.9%	N/A	2.2%	N/A	N/A	N/A	N/A
Return on Assets	-1.6%-3.9pp	2.3%+3.8pp	-1.5%-2.8pp	1.3%+8.8pp	-7.5%-2.4pp	-5.1%+1.0pp	-6.2%+4.0pp	-10.1%
Current Ratio	2.71-0.2	2.87-0.4	3.25-0.4	3.61+1.2	2.38-0.8	3.22+0.1	3.10+0.6	2.51
Debt-to-Equity	0.18-0.0	0.19-0.0	0.20-0.0	0.21-0.1	0.27+0.0	0.25+0.0	0.23+0.2	0.02
FCF Margin	8.2%+0.4pp	7.8%+3.2pp	4.7%+11.2pp	-6.5%+1.8pp	-8.3%+18.7pp	-27.0%+29.1pp	-56.1%+21.4pp	-77.6%

Similar Companies

$2.8B

$4.9B

$5.4B

$13.6B

Charles Riv Labs Intl Inc CRL

$7.9B

Frequently Asked Questions

What is GeneDx Holdings Corp's annual revenue?

GeneDx Holdings Corp (WGS) reported $305.4M in total revenue for fiscal year 2024. This represents a 50.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is GeneDx Holdings Corp's revenue growing?

GeneDx Holdings Corp (WGS) revenue grew by 50.8% year-over-year, from $202.6M to $305.4M in fiscal year 2024.

Is GeneDx Holdings Corp profitable?

No, GeneDx Holdings Corp (WGS) reported a net income of -$52.3M in fiscal year 2024, with a net profit margin of -17.1%.

What is GeneDx Holdings Corp's earnings per share (EPS)?

GeneDx Holdings Corp (WGS) reported diluted earnings per share of $-1.94 for fiscal year 2024. This represents a 73.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is GeneDx Holdings Corp's EBITDA?

GeneDx Holdings Corp (WGS) had EBITDA of -$15.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does GeneDx Holdings Corp have?

As of fiscal year 2024, GeneDx Holdings Corp (WGS) had $85.2M in cash and equivalents against $51.9M in long-term debt.

What is GeneDx Holdings Corp's gross margin?

GeneDx Holdings Corp (WGS) had a gross margin of 63.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is GeneDx Holdings Corp's operating margin?

GeneDx Holdings Corp (WGS) had an operating margin of -7.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is GeneDx Holdings Corp's net profit margin?

GeneDx Holdings Corp (WGS) had a net profit margin of -17.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is GeneDx Holdings Corp's free cash flow?

GeneDx Holdings Corp (WGS) generated -$34.0M in free cash flow during fiscal year 2024. This represents a 81.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is GeneDx Holdings Corp's operating cash flow?

GeneDx Holdings Corp (WGS) generated -$28.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are GeneDx Holdings Corp's total assets?

GeneDx Holdings Corp (WGS) had $419.4M in total assets as of fiscal year 2024, including both current and long-term assets.

What are GeneDx Holdings Corp's capital expenditures?

GeneDx Holdings Corp (WGS) invested $5.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does GeneDx Holdings Corp spend on research and development?

GeneDx Holdings Corp (WGS) invested $45.7M in research and development during fiscal year 2024.

How many shares does GeneDx Holdings Corp have outstanding?

GeneDx Holdings Corp (WGS) had 28M shares outstanding as of fiscal year 2024.

What is GeneDx Holdings Corp's current ratio?

GeneDx Holdings Corp (WGS) had a current ratio of 3.61 as of fiscal year 2024, which is generally considered healthy.

What is GeneDx Holdings Corp's debt-to-equity ratio?

GeneDx Holdings Corp (WGS) had a debt-to-equity ratio of 0.21 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is GeneDx Holdings Corp's return on assets (ROA)?

GeneDx Holdings Corp (WGS) had a return on assets of -12.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is GeneDx Holdings Corp's cash runway?

Based on fiscal year 2024 data, GeneDx Holdings Corp (WGS) had $85.2M in cash against an annual operating cash burn of $28.5M. This gives an estimated cash runway of approximately 36 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is GeneDx Holdings Corp's Piotroski F-Score?

GeneDx Holdings Corp (WGS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are GeneDx Holdings Corp's earnings high quality?

GeneDx Holdings Corp (WGS) has an earnings quality ratio of 0.55x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is GeneDx Holdings Corp?

GeneDx Holdings Corp (WGS) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.